If you’re a serious trader and you’re going to be doing a lot of volume, or making a large amount of trades throughout the day, you’ll probably want to save on trading spread costs with an ECN account. We took a look at the accounts VantageFX has to offer and like the fact they have a range of accounts for different trading styles. Of particular interest to us is the Cent Account since not many traders have this type of account (even if this is only available for traders in South Africa).
What did our traders think after reviewing the key criteria?
The content is presented in different formats (video, written, etc) and covers various aspects of the market. The materials are nuanced and present traders with a multifaceted overview of price action behavior. Vantage provides free VPS hosting for accounts with a minimum limefx courses scam $1000 balance and a monthly trade volume of at least $0.5 million. Broken down by asset class and compared to the industry average, Vantage charges low spreads on currency pairs, shares CFDs, indices, and cryptocurrencies, and low-to-medium spreads on commodities.
Trade Commodities CFDs
ECN brokers utilize electronic execution of client orders since they operate as Over-the-Counter (OTC) derivatives brokers. The advantage of OTC trading over trading on an Exchange is that there is no need for a dealing desk, and client orders are filled much faster. MT5 excels in simplified order execution, but its dated and rugged design falls short compared to newer, sleeker platforms. As a trader who prioritizes flexible chart scaling, I find MT5’s charting too rigid and less effective. However, its strength lies in automated trading, enhanced by Vantage’s free VPS hosting service.
Customer Support Test
- Consequently, it functions more like an ECN (Electronic Communication Network) broker, offering its clients raw spreads directly from these external liquidity providers.
- An example of one such trade would be a EUR/USD buy trade, meaning buying EUR and selling USD.
- If you’re an active trader or professional trader, trading more than a few times per week, and you can afford the minimum deposit, you’ll almost definitely want to use the raw ECN account.
- For traders in Australia, you should strongly consider using Vantage’s raw ECN account as commission rates are extremely competitive.
- The MetaTrader 5 platform in particular has really been streamlined with this latest update.
- The leverage multiplies the profits a trader generates from winning positions but also the losses incurred from failed trades.
His expertise is swing trading and day trading with a heavy emphasis on psychological and fundamental analysis. Plamen's broad experience has equipped him with the expertise to recommend the best forex brokers. Vantage offers demo accounts that introduce traders to the broker’s services and allow them to tweak their strategies in a risk-free environment.
Trading Platforms
Ross Collins, our chief researcher tested the spreads for 20 MT4 brokers for RAW-style accounts and found Fusion Markets and IC Markets to be among the top choices for tight spreads. At this time, we haven’t tested the spreads with VantageFX ourselves but when we do, we will update this page. In the case of VantageFX, they only provide the average for their commissions-based account (specifically their RAW ECN Brokers) so we are able to compare this type of account.
But our results do suggest there may be certain currency pairs to look out for, for example, our test suggests the spreads for the AUD/USD pair might be a bit high. VantageFX like many brokers, provide their average spreads on their website. There is a truly impressive assortment of over 270 past webinars available from the broker’s YouTube channel. There is already enough content to provide newbie traders with a firm understanding of the ABCs of trading.
There is also an entire basket of supporting tools that comes in with ProTrader. Against a minimum deposit of $200, Vantage clients can gain access to ProTrader’s Market Buzz, advanced charting capabilities, featured ideas, and other tools. The forex market is the largest financial market in the world with a turnover of well over £4 trillion a day.
The firm offers MT4, MT5, and TradingView-based platforms, which in our opinion is exactly what the average retail trader should be using. But will the trade ideas, trading tools, and sentiment analysis type information give you an edge in the markets? Charts By TradingView offers what we believe https://limefx.biz/ are some of the best charting options for retail traders. We covered how to sign up for a Demo Account and Live account elsewhere on this page. MT4 and MT5 are somewhat similar, MT5 is the successor to MT4 so offers much of what MT4 has but more charts, indicators and tools overall.
As such, it is quite clear that Vantage takes its regulatory obligations seriously, making this broker one of the safest around. Currently, the National Australia Bank acts as its custodian bank and it is regulated by the Cayman Island Monetary Authority (CIMA). Additionally, it also has indemnity insurance, meaning that user accounts and deposits are afforded a very high level of protection. Vantage incorporates the popular MetaTrader 4 and MetaTrader 5, along with the ProTrader platform. MetaTrader affords easy order execution, though its rugged design makes it somewhat difficult to execute probing technical analysis. In comparison, ProTrader features advanced charting capabilities and various tools for market analysis.
Having traded since 1998, Justin is the CEO and Co-Founded CompareForexBrokers in 2004. Justin has published over 100 finance articles from Forbes, Kiplinger to Finance Magnates. He has a Masters and Commerce degree and has an active role in the fintech community. A last step in the account opening process required that we upload a picture of our driver’s license, as well as a proof of address document. Up next, we had to share some basic details regarding our trading history and experience.
The active trader promotion offers users who open a Standard STP account funded by at least $10,000 the opportunity to earn bonuses based on their account activity. The welcome bonus provides a bonus of 50% on deposits of up to $500 for users signing up to the Vantage account. Vantage clearly takes customer satisfaction and loyalty very seriously, as these bonus schemes are among the best we have come across. In particular, it’s great to see Vantage offering promotions and bonuses for both new and experienced users of the platform. Overall, the writer of this Vantage review found that using the platform is relatively simple.